Ameritech to Invest $3.4 Billion
In 20% Stake in BCE's Bell Canada

Ameritech Corp. plans to invest $3.4 billion in a 20% stake in BCE Inc.'s Bell Canada unit, enabling the Baby Bell to expand into the hot Canadian telecommunications market.

A series of deregulation moves in recent years, coupled with the large number of U.S. companies doing business in Canada, have spurred investment interest there. Earlier this month, AT&T Corp. forged a $2.4 billion alliance with MetroNet Communications Corp.,...